Latest Indian Mutual Fund News | 12-Feb-2014

Mirae Asset Mutual Fund announced the NFO of Mirae Asset FMP- Series I- 368 Days. The scheme will open for subscription on February 13, 2014 and close on February 20, 2014.

News Source – VALUE RESEARCH ONLINE.

2.Pramerica Mutual Fund files offer document for Tax Savings Fund

Pramerica Mutual Fund has filed offer document with SEBI to launch an open ended equity linked savings Scheme named as �Pramerica Tax Savings Fund,� The New Fund Offer price is Rs 10 per unit.
Entry and exit load charges will be nil for the scheme. The scheme offers growth and dividend option and seeks to collect a Minimum Target Amount of Rs 10 Lakhs. The scheme will be benchmarked against BSE 200 Index. The minimum application amount is Rs.500 and in multiples of Rs. 500 thereafter.
The investment objective of the scheme is to generate long-term capital appreciation by predominantly investing in equity & equity related instruments and to enable eligible investors to avail deduction from total income, as permitted under the Income Tax Act, 1961 as amended from time to time.

News Source – INDIAN COMMODITY.

3.LIC NOMURA Mutual Fund files offer document for RGESS-Series 2

LIC NOMURA Mutual Fund has filed offer document with SEBI to launch a closed ended equity scheme named as ‘LIC NOMURA Rajiv Gandhi Equity Savings Scheme – Series 2’. The New Fund Offer price is Rs 10 per unit.
Entry and exit load charges will be nil for the scheme. The scheme offers growth and dividend option and seeks to collect a Minimum Target Amount of Rs 10 crore. The scheme will be benchmarked against S&P BSE 100 Index. The minimum application amount is Rs 5, 000 and in multiples of Re 1 thereafter.
The investment objective of the scheme is to generate capital appreciation, from a portfolio that is substantially constituted of equity securities which are specified as eligible securities for Rajiv Gandhi Equity Savings Scheme (RGESS). The Scheme may also invest a certain portion of its corpus in cash & cash equivalent and money market instruments from time to time.